On July 11, at a congressional hearing, Federal Deposit Insurance Corporation (FDIC) nominee Christie Goldsmith Romero said banks should be allowed to hold crypto assets. 🏦 She believes that cryptocurrency is “just another business, like any other business,” and the FDIC should not tell banks what assets to hold.

This statement was the only mention of cryptocurrency during the hearing. At the same time, Congress failed to override President Biden's veto of repealing SAB-121, the SEC rule that would require banks that hold crypto assets to count them as liabilities on their balance sheets.

All this comes amid an ongoing regulatory battle in the US over cryptocurrencies.